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^ Top   #1   07.10.2009

Baack Trucker Forum STAFF   Last Seen: 1 Minute Ago 04.36 AM Member Since: May 2007 Location: Wisconsin Trucker? Trucking Industry Posts: 16,000 My Trucking Photos: 0 Thanks: 10,025 Thanked: 7,313 Times

Banks' 'courtesy' loans at soaring rates irk consumers Quote: mortgage and credit card practices, another type of lending threatens to mire consumers in a credit trap. It's called "courtesy overdraft" and has long been used by banks to automatically pay transactions that account holders don't have the money to cover — and then charge them a steep fee. For years, banks have made it easier for customers to overdraw their checking accounts, aided by a cottage industry of consultants who make big money by helping to wring fees out of consumers, a USA TODAY analysis finds. But what began as a customer service has often become an important revenue driver for banks at the expense of the most vulnerable consumers, according to bank memos reviewed by USA TODAY and interviews with industry insiders. "This practice has gone awry and needs to be fixed," says Alex Sheshunoff, a key consultant who once advised banks to pay, not return, overdrawn transactions. "This is something everyone should be trying to find a solution to, not fighting." http://www.usatoday.com/money/perfi/...aft-fees_N.htm __________________ Forum Rules The Thanks! button Spelling and the TTR How to insert a picture Using our search feature Copying and pasting articles TTR Advertising opportunities

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^ Top   #2   07.10.2009

rich_t Road Train Member   Last Seen: 8 Hours Ago 07.47 PM Member Since: May 2009 Location: United States Trucker? EX-0-1 Year Posts: 1,295 My Trucking Photos: 0 Thanks: 133 Thanked: 361 Times

Don't overdraw your checking account. Problem solved.

^ Top   #3   07.10.2009

jess-juju Road Train Member   Last Seen: 4 Hours Ago 12.18 AM Member Since: Feb 2008 Location: Could be beside ya! Trucker? Trucker's Significant Other Posts: 2,495 My Trucking Photos: 0 Thanks: 229 Thanked: 375 Times

I did once $1.95! That cost me $35.00 in fees, I have been very careful since then. __________________ Bugs the Navigator Is it left then right? or Right and two lefts? IM CONFUSED!

^ Top   #4   07.10.2009

rich_t Road Train Member   Last Seen: 8 Hours Ago 07.47 PM Member Since: May 2009 Location: United States Trucker? EX-0-1 Year Posts: 1,295 My Trucking Photos: 0 Thanks: 133 Thanked: 361 Times

Quote: Originally Posted by jess-juju I did once $1.95! That cost me $35.00 in fees, I have been very careful since then. As well you should be.

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